So the value is a national currency is the national value of labor / circulation. If the economy grows in proportion to the circulation than you have stable growth.

So the big problem that hit was at the same time the national value of labor plummeted because of shutdowns, the circulation was increased by stimulus spending. A 2 week shutdown is like a 4% reduction in labor value, but the economy didn’t blink off and blink on. There were disruptions, labor shortages, restrictions, etc and that reduction in value got bigger, and bigger.

We couldn’t buy or save our way out of the Great Depression, we had to produce our way out with FDR’s new infrastructure deal. Which makes me think Biden crashing the economy was on purpose, to “save us” with his green new deal.